Morning traders,
Today we have a lot on board the for Dollar, so let’s dive in;
We have core CPI coming out later today. If better then expected we could see the DXY breaking some highs.
- Higher OIL prices weigh on inflation, which comes out at 3.6% in August.
- GDP stays strong, US trade data is the only weak data in the US, but China’s recession will likely give us some cheaper export prices which will eventually bring that number in the positive for the US Dollar.
Inflation is easing in most parts of the economy, and most economists predict it will continue to slow down. Giving the FED green light to end its latest cycle of interest rate increases aimed to tame inflation.
Technicals are perfectly in line with what the macros are saying, so I will aim for highs the coming days/weeks.
Today we have a lot on board the for Dollar, so let’s dive in;
We have core CPI coming out later today. If better then expected we could see the DXY breaking some highs.
- Higher OIL prices weigh on inflation, which comes out at 3.6% in August.
- GDP stays strong, US trade data is the only weak data in the US, but China’s recession will likely give us some cheaper export prices which will eventually bring that number in the positive for the US Dollar.
Inflation is easing in most parts of the economy, and most economists predict it will continue to slow down. Giving the FED green light to end its latest cycle of interest rate increases aimed to tame inflation.
Technicals are perfectly in line with what the macros are saying, so I will aim for highs the coming days/weeks.